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20100901
20100930
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questions out there but the rulemaking is going to need to clarify for us. but kind is based on even where you think it's coming out today, how is it going to change what you do? >> well, specifically on the pension side because they did something that was pretty smart a couple years ago they entered into a long-duration program, where we moved more of the pension investments from equity into fixed income. and so also looking at doing more physical interest rate swap. the same is to minimize the interest rate volatility. if you want to add on additional 10 to $15 billion in interest rate depending on how legislation decides to set the initial variation margin, you may forgo doing some of that because so much capital is being set aside and entered into a hedging portfolio pictures they knew what to limit volatility. but now you're adding this cash component because you have to set aside that much working capital. honestly hopefully the look of the maybe complex securities and do other things and do more net income aware that risk is minimized and so the cache is being set aside. but for us
fiercely for you and was very inspired by your message of hope. . . this is pretty remarkable. most of us, in fact, i am just looking around the room. i think it is fair to say that nobody remembers the economy of the great depression, so the worst economy that we have gone through, maybe one, maybe one, maybe a couple, but you guys look really good for your age. the 1981 recession, and this was worse than the three other recessions combined in terms of job loss and how it affected incomes, so that is going to have an effect on the entire generation. it means that they are worried about the future in a way that most of us were not worried. i think that this generation, the suns generation, they do not take things for granted. i think they think about the community and other people. they do not have a narrow focus. i am very impressed with it. their future will be fine, but in the short term, what i say to them is, first of all, we are doing everything we can to make sure they can get the best education. one of the things that we did this year is we were able to change the student loan pro
it first but am getting used to it. filthth we're taking steps to reduce the number of o.s.d. level reviews to those necessary to support major investment decisions or to uncover and respond to significant program execution issues. eliminating low value added statutory processes and i hasten to say at this point i'm not referring to weapons acquisitions reform act that we understand the intent of that and appreciate that intent and are executing to that intent including developmental test and evaluation and systems engineering. the kind of thing i have in mind is this, i sit in there in the pentagon on saturday afternoon reading reports to you that are this thick and in an embarrassing number of circumstances late to need. and am convinced i'm the only human being that ever read it, never will and the reason i'm reading is because i have to sign it and am afraid of embarrassing myself. i sign an equal number of letters to you in which i say you ask for it in may and it's june and it has nothing to do with intent but execution and the paperwork burden we've imposed upon ourselves. that's jus
it completely right. the problem is not islam. the problem are people who have used islam to commit violent acts against our country and our people but what happened after we asked all these questions was a cottage industry who actually had an ax to grind against muslims and against arabs in particular, they ended up providing most of the answers. they wrote books and got them published. they testified before congress and dominateded the air waves on radio and television. i will never forget a hearing held in the senate on islam featuring three guys who -- actually if you had the reverse and the three muslims were testifying on the nature of judaism in an arab country, you would hear whoops and yells. but it was acceptable for this to happen. and the lies they told and the bigotry they spread were horrific. and yet people were nodding in the audience because that's all they heard. that's all they were in a position to hear. these guys inflated every incidents of violence as somehow evidence they were right, and they have done damage. shortly after 9/11 when we polled america, what we found was p
Search Results 0 to 3 of about 4

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